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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Tx Buck who wrote (10968)	7/2/1998 9:42:00 PM
From: BelowTheCrowd	Read Replies (1) \| Respond to of 120523

Actually, my favorite so far is his "Due Diligence" in which he basically lists the director profiles, presumably copied directly from the 401K. exchange2000.com Speaking as an occasional shorter, I love this kind of thing: CEO/founder has little restaurant experience, and no experience with any major franchiser. His primary experience seems related to real estate in Montana. Before that he played baseball. The CEO/founder's brother is also on the board. Also no real relevant experience. Worked with his brother in Montana real estate before. Closest he's come to the restaurant business is owning a "pizza establishment." His wife is on the board too. Her dad ran a restaurant chain in Tennessee. That is one of the strongest connections anybody on this board has to a successful restaurant chain. The President/COO has been there for six months. He actually has experience with some small franchisers or franchisees. I am not aware of any of the companies he worked for, so cannot speak to his success, but one would expect that any major successes WOULD be highlighted if they existed. Given the timing, one has to wonder if adding him to the board was "window dressing" for investors. The controller is a CPA with no restaurant or franchising-related experience. The three outside directors appear to bring nothing useful to the table as far as the restaurant business is concerned. One is currently in metal fabricating. Another is an ex-football player (that's two ex-athletes on the board) who now owns a graphics and photo company and who "has an interest in nutrition." The third is a doctor who apparently has a background in nutrition. ------------------------------------- Three of the directors are family members. That's more than 30%, which is generally unacceptable for a public company. The three outside directors don't appear to have any relevant experience, so one must wonder why they were selected? Maybe packing the board with friends? Only two of the directors can claim directly relevant experience to the business. A venture capitalist's perspective would have to be "who are these guys?" mg